Single-Tenant NNN
For Sale
$732,072
4815 State Highway 121, The Colony, TX 75056
CommercialSale, The Colony, TX
Property Size1,918 SF
Lot Size0.04 Acres
Price / SF$381.69
Days on Market111
Property Features for 4815 State Highway 121
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Planned Development (PD)
Subdivision
121 Office Plaza Condo
Directions
Located at 4815 SH 121 in The Colony, the property sits along the north side of State Highway 121. From Dallas North Tollway, head north and exit toward SH 121, then merge east. Continue on SH 121 for approximately 2 miles-the property will be on your right with direct frontage and easy access.
Standard status
Active
APN
R655706
Size
1,918 SF
Lot size
0.04 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2015
Floors in Building
1
Number of units
1
Flooring type
Engineered
Building materials
Brick
Roof type
Composition
Listing Agency:
Younger Partners Dallas, LLC
(214) 294-4400
Listed By:
Jennifer Permenter
(214) 238-8000
Added: Jul 11
Changed: Oct 27
Last Checked: Oct 29 at 5:06PM
MLS# 21249192
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,918-square-foot, single-tenant property was built in 2015 and received interior finish improvements in 2024. Its seven rooms each have plumbing; the layout also includes two restrooms, two showers, a break room, and washer and dryer hookups. The property occupies a 0.0447-acre lot and has central electric heating and cooling, with public water and sewer service. The lease is NNN, and the stated Year 1 cap rate is 7.50%.
The building fronts SH 121 in The Colony and has pylon signage along the highway. PD 11 zoning allows medical, dental, general office, personal service, and tutoring uses. Management is provided by the 121 Office Plaza Condominium Association.
The building fronts SH 121 in The Colony and has pylon signage along the highway. PD 11 zoning allows medical, dental, general office, personal service, and tutoring uses. Management is provided by the 121 Office Plaza Condominium Association.
Key Highlights
- 1,918 square feet on a 0.0447‑acre lot
- Single‑tenant NNN property with a stated 7.50% cap rate in Year 1
- Seven rooms, each with plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,670
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,400
$533.4K
Cap Rate 7%
$381,000
$381.0K
Cap Rate 9%
$296,333
$296.3K
Market Conditions
NOI Build-Up for 1,918 SF
Gross rent
$47.4K $24.72/SF
− Vacancy
−$11.9K −$6.18/SF
EGI
$35.6K $18.54/SF
− OpEx
−$8.9K −$4.64/SF
NOI
$26.7K $13.91/SF
Area
Denton County, TX
Vacancy
25.00%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,400
Cap Rate 7%
$381,000
Cap Rate 9%
$296,333
Alternative Uses
Best Use
Office B
$381.0K
$333.4K – $444.5K
NOI $26,670 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$26.82M
$23.47M – $31.29M
NOI $1,877,549 @ 7.0% cap · market cap 256.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Explore this area
Business Placement
Demographics for 75056, TX
67,570
Population
28,102
Households
2.4
Avg Household Size
36
Median Age
54%
College-Educated
95%
High-School Grad
23.6 sq mi
ZIP Area
2,863
Density / Sq Mi
$116,806
Median Household Income
$64,197
Median Earnings
$1,808
Median Rent
$414,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
NNN property - Plumbing in every room, plus showers and laundry hookups, supports office, medical, and personal-service configurations.
Where is this nnn property located?
The property is located at 4815 State Highway 121 The Colony, TX.
What is the asking price?
The asking price for this property is $732,072.
What are key features of this property?
This property features: 1,918 square feet on a 0.0447‑acre lot; Single‑tenant NNN property with a stated 7.50% cap rate in Year 1; Seven rooms, each with plumbing
